Thu. Oct 5th, 2023
    Volvo Group Partners with H2 Green Steel to Source Near Zero Emissions Steel

    Swedish trucking giant Volvo Group has announced a groundbreaking partnership with H2 Green Steel to procure near zero emissions steel for its commercial vehicle manufacturing. H2 Green Steel recently secured a €1.5 billion investment to construct its flagship green steel plant in Boden, Sweden.

    The plant, which is anticipated to commence steel production by the end of 2025, will utilize hydrogen instead of coal in the manufacturing process. The hydrogen will be produced on-site using Europe’s largest electrolyser, powered by renewable energy. By employing this innovative approach, H2 Green Steel expects to reduce CO2 emissions by up to 95% compared to traditional blast furnace technology.

    The significance of this collaboration lies in the substantial role steel plays in the automotive manufacturing industry. The transition to steel with significantly lower carbon emissions will have a transformative effect on decarbonizing the automotive supply chain. Volvo Group’s chief purchasing officer, Andrea Fuder, emphasized the importance of working with established and emerging players to leverage decarbonized materials in driving sustainable transport and infrastructure solutions.

    Henrik Henriksson, CEO of H2 Green Steel, expressed his appreciation for Volvo Group’s order, stating that it confirms their confidence in both the company and its eco-friendly product. The global demand for green steel, particularly within the commercial vehicle sector, is steadily growing, and the endorsement from a leading player like Volvo is a significant validation.

    This collaborative effort between Volvo Group and H2 Green Steel marks a crucial step towards achieving a more sustainable future for the transportation industry. By sourcing near zero emissions steel, Volvo Group is reinforcing its commitment to reducing its carbon footprint and promoting green technologies in the automotive sector.

    – Source Article: Volvo Group signs deal for green steel with new H2 Green Steel plant URL: [Link]
    – Definition of CO2: Carbon dioxide, a greenhouse gas that contributes to climate change.
    – Definition of blast furnace technology: A traditional method of producing steel that involves using coke (a byproduct of coal) to generate heat and chemical reactions to extract iron from iron ore.

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